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    • fifi browne
    • By fifi browne 12th Jan 18, 10:38 PM
    • 79Posts
    • 44Thanks
    fifi browne
    Santander - omg!
    • #1
    • 12th Jan 18, 10:38 PM
    Santander - omg! 12th Jan 18 at 10:38 PM
    Good evening - an outline. Bought this house with my daughter 2.5 years ago. 5 months ago we tied ourselves into another 2 year deal, she does not live with me as her circumstances changed and she lives 100 miles away. she wants to come off the mortgage to buy a house 100 miles away. I don't earn enough to have the house completely, I owe 100 k, value is 180 k. My partner can replace her in here place. he works 150 miles away Mon - Thursday. Santander say he must be in the house 50% of the time. I said he has done this job for 30 years. Where is the logic or am I missing something? I also work away - I don't spend 50% of my time in the house! House is in England. Btw my daughter has never lived in thee house, and I have always paid the mortgage and bills. she doesn't want any money, she wants her name removed. my credit is excellent. what language do Santander speak? I don't want to sell my home because I don't tick their boxes.
Page 1
    • Thrugelmir
    • By Thrugelmir 12th Jan 18, 10:59 PM
    • 58,454 Posts
    • 51,828 Thanks
    Thrugelmir
    • #2
    • 12th Jan 18, 10:59 PM
    • #2
    • 12th Jan 18, 10:59 PM
    I don't want to sell my home because I don't tick their boxes.
    Originally posted by fifi browne
    That's not Santanders problem. You knew the risks when you first bought the house together.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • fifi browne
    • By fifi browne 12th Jan 18, 11:05 PM
    • 79 Posts
    • 44 Thanks
    fifi browne
    • #3
    • 12th Jan 18, 11:05 PM
    • #3
    • 12th Jan 18, 11:05 PM
    I didn't ask who's problem is it - I am asking is there a solution. Glad your life is in straight lines.
    • stevenhp1987
    • By stevenhp1987 13th Jan 18, 1:01 AM
    • 605 Posts
    • 490 Thanks
    stevenhp1987
    • #4
    • 13th Jan 18, 1:01 AM
    • #4
    • 13th Jan 18, 1:01 AM
    Btw my daughter has never lived in thee house, and I have always paid the mortgage and bills.
    Originally posted by fifi browne
    So you/she committed fraud when you applied in joint names? when you apply, you state you will both be living there; by her stating such, then not living there, she has committed fraud.

    When you apply for a 25 year mortgage, you apply for a 25 year term, not 2 years, not 5 years, but 25 years (replace 25 years with whatever your mortgage term is).

    If your daughter was not happy to live in your house for 25 years, she shouldn't have agreed to be part of the mortgage.

    Not much that can be done really unless you can apply for a new mortgage on your own. What was your reasoning behind applying with your daughter?!? If it was to use her income, then your bank's response is hardly unexpected.
    • RedFraggle
    • By RedFraggle 13th Jan 18, 7:54 AM
    • 655 Posts
    • 1,766 Thanks
    RedFraggle
    • #5
    • 13th Jan 18, 7:54 AM
    • #5
    • 13th Jan 18, 7:54 AM
    So you/she committed fraud when you applied in joint names? when you apply, you state you will both be living there; by her stating such, then not living there, she has committed fraud.

    When you apply for a 25 year mortgage, you apply for a 25 year term, not 2 years, not 5 years, but 25 years (replace 25 years with whatever your mortgage term is).

    If your daughter was not happy to live in your house for 25 years, she shouldn't have agreed to be part of the mortgage.

    Not much that can be done really unless you can apply for a new mortgage on your own. What was your reasoning behind applying with your daughter?!? If it was to use her income , then your bank's response is hardly unexpected.
    Originally posted by stevenhp1987
    It says there was a change of circumstances. She may have intended to move in it just didn't happen.
    Officially in a clique of idiots
    • csgohan4
    • By csgohan4 13th Jan 18, 8:34 AM
    • 4,426 Posts
    • 2,776 Thanks
    csgohan4
    • #6
    • 13th Jan 18, 8:34 AM
    • #6
    • 13th Jan 18, 8:34 AM
    This is why family and money shouldn't''t mix and in this case more than ever.


    Don't buy a house/flat with your parents, because who are you really helping and hindering.


    You can't get rid of your share easily if your parent/s don't earn enough buy you out and if you want a property to live in with your partner or husband/kids, you pay extra stamp duty for a second property


    OP I'm afraid you knew the risks and sadly the daughter looks likes she didn't know what she got herself in. It seems you got your daughter into this for your own benefit to have a house.


    You are both responsible for the mortgage and defaulting will impact both your credit files and therefore ability to get credit.


    Perhaps selling and downsizing maybe an option
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Pixie5740
    • By Pixie5740 13th Jan 18, 8:43 AM
    • 12,111 Posts
    • 17,044 Thanks
    Pixie5740
    • #7
    • 13th Jan 18, 8:43 AM
    • #7
    • 13th Jan 18, 8:43 AM
    It sounds as though Santander are not the lender for you. Many lenders will have an issue with neither you nor your partner working within a commutable distance of the property. Engage a mortgage broker.
    • amnblog
    • By amnblog 13th Jan 18, 8:44 AM
    • 10,459 Posts
    • 4,131 Thanks
    amnblog
    • #8
    • 13th Jan 18, 8:44 AM
    • #8
    • 13th Jan 18, 8:44 AM
    Perhaps you should consider moving to an alternate Lender?

    Most are comfortable with a borrower working away provided the extra costs are affordable.
    I am a Mortgage Broker

    You should note that this site doesn't check my status as a Mortgage Broker, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
    • kingstreet
    • By kingstreet 13th Jan 18, 10:02 AM
    • 33,347 Posts
    • 18,041 Thanks
    kingstreet
    • #9
    • 13th Jan 18, 10:02 AM
    • #9
    • 13th Jan 18, 10:02 AM
    5 months ago we tied ourselves into another 2 year deal
    Originally posted by fifi browne
    If you hadn't done this, you could now have found the right lender for the altered circumstances and it cost you nothing.

    As you did, you will have to meet any early redemption penalties attaching to the product to be able to leave.
    I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.
    • Thrugelmir
    • By Thrugelmir 13th Jan 18, 1:29 PM
    • 58,454 Posts
    • 51,828 Thanks
    Thrugelmir
    I didn't ask who's problem is it - I am asking is there a solution. Glad your life is in straight lines.
    Originally posted by fifi browne
    Either you move in with your partner or they move in with you. Seems the logical step. Alternatively downsize to a smaller property.

    Btw my daughter has never lived in thee house
    That's not a straight line. More akin to buying a shovel and digging a hole for oneself. Which makes it late in the day to ask for solutions.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
    • fifi browne
    • By fifi browne 13th Jan 18, 5:06 PM
    • 79 Posts
    • 44 Thanks
    fifi browne
    Thank you - 2 weeks before my daughter and I moved into this house, the company she works with - and it is a large well known company - moved her to another location. It was out of her hands. We bought a 2 bed property to live together.
    • stevenhp1987
    • By stevenhp1987 13th Jan 18, 5:55 PM
    • 605 Posts
    • 490 Thanks
    stevenhp1987
    It says there was a change of circumstances. She may have intended to move in it just didn't happen.
    Originally posted by RedFraggle
    Yes, but they also stated that after 2 years, they re-mortgaged into a new 2 year deal, of which they are now 5 months into.

    At this point, they knew full well that she was not living there.

    Op, you should speak to a broker to see if this is feasible with another mortgage provider. You may also need to pay an arm and a leg (not literally) to get out of your deal early.
    • Thrugelmir
    • By Thrugelmir 13th Jan 18, 9:55 PM
    • 58,454 Posts
    • 51,828 Thanks
    Thrugelmir
    Thank you - 2 weeks before my daughter and I moved into this house, the company she works with - and it is a large well known company - moved her to another location.
    Originally posted by fifi browne
    Relocations rarely happen overnight. Packages are also made available to assist home owners. Decisions were made then for you to remain in situ.
    Financial disasters happen when the last person who can remember what went wrong last time has left the building.
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